MEXICO – On January 28th Soriana and Controladora Comercial Mexicana (CCM) reported that they have reached an agreement in which Soriana will buy 160 stores from CCM of the Comercial Mexicana, Mega, Bodega Comercial Mexicana and Alprecio banners.

The transaction, which amounts to $ 39,193.7 million pesos (approx. USD 2.7 billion) and includes – among other strategic assets – real estate, 3 distribution centers, inventory and rights to use certain brands. With this acquisition Soriana becomes the second largest retailer in the country after Walmart of Mexico.

This acquisition represents for Soriana an estimated total revenue increase of 37%, an increase of approximately $ 3.200 billion pesos in EBITDA and an expansion of 34% on the sales floor. Excluded from this transaction are the operations corresponding to the Fresko, City Market and Sumesa banners, that cater to higher income consumers in urban areas, which will remain in control of CCM. The transaction is subject to approval by the competent authorities to enter into effect.